"The development of these two new product lines is the result of Skynet continuously striving to meet our customers' evolving distribution needs," said Terry Hart, president of Loral Skynet. "These new product lines will expand Skynet's business capabilities and allow our customers a broader solution for their content transport requirements."

Skynet Network Services now offers access services and transmission platforms that enable the rapid and reliable transport of content. Loral Skynet has begun to create a network of key access points, including its already existing San Francisco International Gateway. Customers can gain ease of entry and speed to market with reliable network solutions through applications that include broadband transport, bandwidth-on-demand, broadcast MCPC platforms, and teleport services.

Skynet Professional Services, a team of world-class network architects, engineers, program managers and satellite operations professionals, provide customized business solutions to support its clients. By leveraging 40 years of experience in the satellite industry, the Skynet Professional Services team plans, builds and manages its customers' satellite-based requirements. Skynet Professional Services applications include: tracking, telemetry and control (TT&C), design and integration of customer-owned satellite control facilities, and unique, customized transport solutions such as centralcasting.

To learn more about these new product lines, visit Loral Skynet's booth at the Sands Convention Center (number S9044) during NAB 2002 in Las Vegas from April 8-11, 2002.

Loral Skynet of Bedminster, N.J., a subsidiary of Loral Space & Communications, is a leading satellite communications services provider that operates the Telstar satellite fleet. This fleet provides C-band and Ku-band coverage for over 85% of the world's population. Customers lease transponder capacity to distribute network television programming, to collect live video feeds for the reporting of news and events, to provide Internet connectivity to Internet Service Providers and other users, and to offer direct-to-home and pay-per-view programming for distance learning, educational, and other business television services. Loral Skynet is a member of the Loral Global Alliance, which includes Europe*Star, Loral Skynet do Brasil, Stellat, and Satmex. For more information, visit Loral Skynet's web site at www.loralskynet.com.

Loral Space & Communications is a high technology company that concentrates primarily on satellite-based services and satellite manufacturing, including broadcast transponder leasing and value added services, domestic and international corporate data networks, broadband data transmission and Internet services.

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Loral Space & Communications Ltd. or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the company with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. These factors and conditions have been described in the section of the company's annual report on Form 10-K for the fiscal year ended December 31, 2001, entitled "Certain Factors That May Affect Future Results," and the company's other filings with the Securities and Exchange Commission. The reader is specifically referred to these documents regarding the factors and conditions that may affect future results.